Platts includes FSUs in ex-wharf Singapore bunker assessments

S&P Global Platts has started reflecting approved floating storage units as additional delivery points in its ex-wharf Singapore bunker assessments for 380 CST HSFO and Marine Fuel 0.5% sulfur from Sept. 1, 2021.

The decision follows extensive engagement with the market on this subject since Platts first published this proposal on July 2, 2021. (https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/070221-platts-proposes-to-include-fsus-in-ex-wharf-singapore-bunker-assessments)

Platts already reflects loadings from Platts-approved FSUs in its Market on Close assessment process for benchmark FOB Singapore high sulfur fuel oil and Marine Fuel 0.5% cargo assessments.

In line with Platts guidelines for the above-mentioned cargo assessments, Platts MOC process for ex-wharf bunkers require that sellers specifically name the vessel used as a loading point at the time of submitting offers on an ex-wharf FSU basis to Platts for publishing.

Platts reflects ex-wharf deliveries from all FSUs already approved as delivery point for the FOB Singapore HSFO and MF 0.5% cargo assessments.

Offers of oil from vessels approved for the MOC process are on an ex-wharf FSU basis.

For all trades done on an ex-wharf basis, sellers cannot unilaterally nominate an FSU as a delivery point, unless it was stated in the offer at the time of publication. Buyers can only nominate barges approved by Singapore Maritime Ports Authority for loading bunker on an ex-wharf basis from approved FSUs for trades reported in the MOC process.

The list of approved FSUs can be found in the Platts methodology guide for Asia Pacific & Middle East Refined Oil Products at: https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/oil

Please send all questions and comments to asia_products@spglobal.com and pricegroup@spglobal.com.

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